Vancouver Area   July 6, 2018  (2-week update)

Current:  Vancouver area Real Estate Market ranges from a Sellers Market to a Buyers Market with an average of 8.9 %SOLD rate.   See each city for the full details.

Forecast: May's Real Estate Statistics shows 62% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price much stronger decrease of $16,674 which is a marked drop over the $4,857 increase that we saw in the month prior. On the Average Monthly Price decrease of $4,469, which is a Big-Switch from the $13,418 increase that we saw in the month prior. At the same time, the Vancouver Detached Markets showed a price decrease of $16,674. With many new foreign buyer taxes, the much tougher mortgage lending rules, the higher interest rates, trade tariffs, we are forecasting a Buyer's Market across most Detached Markets.

Currently, the Condo Market is turning from Hot to a cooler market, with 53% of the Greater Vancouver (Lower Mainland) still increasing. 61% of the Townhouse Markets are decreasing (17 out of 28 Markets). The "Fear-OF Missing-Out" buyer emotions of yesterday are now being replaced with the "I-Will-Wait" Attitude. We are forecasting a Stabilizing/ Buyers Market in the lower end Condo/Townhouse Markets for the following months. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.

Fraser Valley & Chilliwack  July 6, 2018  (2-week update)

Current:  Fraser Valley and the Chilliwack areas over all are in a Sellers Market averaging a 13.7 %SOLD rate.  See each city link for the full details

In the Vancouver area for the Month of June 2018, 26% of the Single Family Home Sold Listings reduced their List Price by the Average of $119,204. This compares to the May 2018, when 18% reduced their List Price by the Average of $96,158.
( Note: the other Two Week Reports ( STR and MTI ) will be more accurate market indicators than this monthly report after the middle of each month.)

In the Fraser Valley-Chilliwack area, for the Month of June 2018, 29% of the Single Family Home Sold Listings reduced their List Price by the average of $39,740. This compares to the May 2018 when 18% reduced their List Price by the average of $41,637.

Now do compare the %SOLD and the MTI rates to the year 2016!

Now do compare the %SOLD and the MTI rates to the year 2015!

Now do compare the %SOLD and the MTI rates to the year 2014!

Now do compare the %SOLD and the MTI rates to the year 2013!

Now do compare the %SOLD and the MTI rates to the year 2012!   Now do compare the %SOLD and the MTI rates to the year 2011!

Did Vancouver Real Estate Really go up 31% in the last year? 

                                                                             True or False?

Year to Date Real Estate Price Changes
 

Single Family Homes Top 50%   See all Markets

Here on the first Graph the Year to Date Price Changes for the Top 50% Single Family Housing Market comparing all cities in the Greater Vancouver areas is up an AVERAGE 

Now compare this to the Condo  Markets   (Lower 50%)  See all Markets

Yes the Lower 50% of the Condo Market some cities actually went Down on Average.

Do notice that only a few cities even beat our expected 2% Canada Consumer Annual Inflation Rate.

Are Condos a good investment?     When will they go up?

Low End Condos attract very little foreign investment. This Market is considered mostly a Job Driven Market!

The Condo market will recover and increase when Demand Increases  eg: when we have stronger employment with good paying jobs. More Tim Horton jobs will not create many more home buyers.

The Condo Market is so easy to Over Supply with the many new high rises currently being developed this year.  Single Family Lots ...in other words "DIRT" will continue to be the the one true investment that can rarely be over supplied.

See all Markets